Friday, October 18, 2013

Schnucks' Insurer Drops Breach Lawsuit - BankInfoSecurity

Schnucks' Insurer Drops Breach Lawsuit - BankInfoSecurity:

'via Blog this'

An insurance company has dropped its lawsuit filed in an attempt to avoid covering damages suffered in the breach that affected the Schnuck Markets Inc. grocery store chain.

Now, Schnucks says it is working with its insurer, Liberty Mutual Insurance Co., to reach a settlement outside the court. But one legal expert says this case should serve as a warning that insurance companies are increasingly pursuing legal action to avoid paying for losses linked to data breaches. The case is another indicator that companies need cyber-insurance, he says......

SecurityRecruiter.com's Security Recruiter Blog